Top 10 Most Exclusive and Prestigious Credit Cards
A CREDIT CARD is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.
A credit card is different from a charge card: a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged. A credit card also differs from a cash card, which can be used like currency by the owner of the card. A credit card differs from a charge card also in that a credit card typically involves a third-party entity that pays the seller and is reimbursed by the buyer, whereas a charge card simply defers payment by the buyer until a later date.
The size of most credit cards is 3⅜ × 2⅛ in (85.60 × 53.98 mm), conforming to the ISO/IEC 7810 ID-1 standard. Credit cards have a printed or embossed bank card number complying with the ISO/IEC 7812 numbering standard. Both of these standards are maintained and further developed by ISO/IEC JTC 1/SC 17/WG 1. Before magnetic stripe readers came into widespread use, plastic credit cards issued by many department stores were produced on stock ("Princess" or "CR-50") slightly longer and narrower than 7810.
A DEBIT CARD (also known as a bank card or check card) is a plastic payment card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Some cards may bear a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a payer's designated bank account. The card, where accepted, can be used instead of cash when making purchases. In some cases, the primary account number is assigned exclusively for use on the Internet and there is no physical card.
In many countries, the use of debit cards has become so widespread that their volume has overtaken or entirely replaced cheques and, in some instances, cash transactions. The development of debit cards, unlike credit cards and charge cards, has generally been country specific resulting in a number of different systems around the world, which were often incompatible. Since the mid-2000s, a number of initiatives have allowed debit cards issued in one country to be used in other countries and allowed their use for internet and phone purchases.
Unlike credit and charge cards, payments using a debit card are immediately transferred from the cardholder's designated bank account, instead of them paying the money back at a later date.
Debit cards usually also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash. Merchants may also offer cashback facilities to customers, where a customer can withdraw cash along with their purchase.
Credit & Debit Card News, Reviews & Resources
- 7 Best Luxury Credit Cards (2023) - CardRates.com.
- 7 Best Metal Credit Cards of 2023 - CardRates.com.
- 7 most exclusive credit cards in the world - Luxurylaunches.
- 11 Best Rewards Credit Cards (2023) - CardRates.com.
- 12 Best High-End Credit Cards (2023) - CardRates.com.
- 2023: Best Credit Card Welcome Bonuses - "A welcome bonus can increase how rewarding your card can be, but avoid overspending to reach it."
- A Beginner’s Guide To Credit Cards - "Credit cards can build your credit and earn you rewards, but only when used responsibly."
- A new app wants to help you beat the credit card companies - Mashable.
- A New Credit Card Arrives - With a Silicon Valley Twist - "The X1 is designed for spenders who are young, high-earning, and live on their phones."
- A Beginner’s Guide to Using a Credit Card - MagnifyMoney.
- American Express is getting rid of signatures for credit card purchases - The Verge.
- American Express Platinum Review - "The Platinum Card from American Express is arguably the most prestigious card on the market. It offers an intro bonus of 60,000 Membership Rewards® Points and up to 5x Membership Rewards points on purchases. It also comes with a long list of perks, including travel credits and airport lounge access. With a $550 annual fee, the card is not for the feint of heart or those who don’t take full advantage of the card’s rewards."
- American Express suspends operations in Russia & Belarus - "American Express (AXP) is the latest credit card company to announce it is ending its operations in Russia as its invasion into Ukraine escalates. Other credit card companies have taken similar steps this weekend."
- AMEX Black Card Benefits & Unboxing - "In this video I’m unboxing the mysterious Black Card and revealing all of the TOP SECRET stuff that comes with it!" YouTube 18:48.
- Amex Just Announced New Travel Card Perks - That Don’t Involve Travel - "The issuer just announced a slew of new benefits designed to help you save money on dining and wireless purchases."
- Apple Card begins its rollout: here's how it works - "Tap > glance > done."
- Apple Card holders can now sign up for a high-yield savings account - "Apple is launching its high-yield savings account for Card owners in the US after a months-long wait. Sign up for the 4.15 percent annual percentage yield offering and you can either transfer money (from your Apple Cash balance or a linked bank account) or automatically deposit your Daily Cash from purchases. There are no fees, balance requirements or minimum deposit amounts, and you can withdraw money at any time."
- Apple Card is Apple’s thinnest & lightest status symbol ever - "The most iconic scene of American Psycho features the lead character Patrick Bateman investigating the business card of rival investment banker Paul Allen and boiling in barely contained envy and rage. 'Look at that subtle off-white coloring. The tasteful thickness of it.' Apple’s newly announced Apple Card credit card seems to have taken inspiration from that scene."
- Apple Card is now available to everyone in the US with 3 percent cash back for Uber - "More merchants to include cash back in the coming months."
- Apple Card issuer investigated after claims of sexist credit checks - "Goldman Sachs faces official inquiry as IT figures including Steve Wozniak say they got 10 times or more the credit limit received by their wives."
- Apple Card may not be as private as you think - "Privilege has its privileges."
- Apple owns every mistake Goldman Sachs makes with its card - "Apple isn’t a bank, but its brand is tied to one now."
- 'Being cash-free puts us at risk of attack': Swedes turn against cashlessness - The Guardian.
- Best Cash Back Credit Cards - "Travel rewards credit cards can earn great returns if you’re willing to track point values and optimum redemption options. But sometimes, you just want to earn rewards in a way you can easily understand – dollars and cents. To help you find a cash back card that fits your spending patterns, we’ve assembled our picks for the best cash back credit cards of 2019."
- Best Credit Card Sign-Up Bonuses - "Credit card issuers sure want your business. As the competition among card issuers has intensified in recent years, they’ve offered an array of incentives, including 0% APR introductory rates and most notably, sign-up bonuses in the form of cash, miles or points."
- best credit cards for building credit of 2021 - "We analyzed 27 credit cards that are marketed toward consumers with no or poor credit to determine the best cards for building or rebuilding your credit."
- best credit cards of 2021 - "We rounded up the best credit cards of 2021 that can help you build credit, save on interest charges and earn you over $2,000 in five years."
- Best Travel Credit Cards for 2021 Can Save You Money Even When You’re Not Traveling - TIME Magazine.
- BUGS IN MOBILE CREDIT CARD READERS COULD EXPOSE BUYERS - Wired.
- Carte Blanche - (1958-2005). Was a travel and entertainment card, part of the Diners Club charge card portfolio.
- Chase Bank cancels all credit card debt for Canadian customers - "Clients ‘over the moon’ at US lender’s move as it withdraws from market."
- Compare Credit Cards For 2023 - "When used to your advantage, credit cards offer a convenient and flexible way to borrow money and/or manage your spending. But there’s no one-size-fits-all. Credit cards come in a raft of different guises and choosing the best for your needs can make a huge difference. So where to start? We’ve carried out some research (September 2023) into the main card categories and listed what we found to be the top two deals in each, below. Bear in mind however, that these cards are ‘best case scenario’. You may be offered less favourable terms according to your credit score and circumstances."
- CREDIT CARD Forum - "For consumers. By consumers." 5000+ Reviews & Offers.
- CREDIT CARD GUIDE - "How to Choose, Use, and Manage Credit Cards."
- Credit Card Reviews 2019: Miles, Points, Cash Back, & More - "Simplifying Travel." With so many great credit cards you can apply for, it’s easy to feel overwhelmed. You may want your new card to earn rewards, enjoy lavish benefits, or build credit. Below are brief credit card reviews for the best credit cards. If there’s a card that interests you, click the link for our in-depth card review.
- CREDIT CARD Rewards - "Earn more rewards." We show you the best credit card rewards around, rated by our team of points pros — whether it's miles, transferrable rewards, hotel points, airline status, or cash back that you're after, we've got you covered.
- Credit Card Signatures Are About to Become Extinct in the U.S. - The New York Times.
- Credit Cards Are Offering New Perks for Food Delivery. Here Are My 3 Favorites - "Many issuers are shifting their credit card perks, traditionally focused on travel, to more general lifestyle benefits that can be used at home. Food delivery services were a natural choice, and several cards have added benefits related to that."
- CREDITCARDS.COM - "Compare Credit Card Offers." Search - Compare - Apply for the credit card of your choice by filling out a secure online application.
- DEBIT CARD - Wikipedia.
- Debit card with built-in fingerprint reader begins trial in the UK - "No PIN numbers, no signatures, and no payment limits."
- Don’t Panic Over New FICO Credit Scores - Do This Instead - "A high credit score is the golden ticket to financial goodies - new credit lines, the best credit card rewards, lower mortgage rates and more. But a new FICO scoring model could cause some overextended consumers to see a dip in their numbers."
- EMVCO - "Global Specifications for Chip-Based Payment." EMV is a global standard for credit and debit payment cards based on chip card technology.
- Finding the Right Credit Card, No Matter How Much You Travel - The New York Times.
- Foreign Exchange: Get the Best Rate - The primary rule of managing purchases abroad is ensuring you are not using a credit card that charges foreign transaction fees. The New York Times.
- FRAUD-PROOF CREDIT CARD POSSIBLE BECAUSE OF QUANTUM PHYSICS - University of Twente, Enschede, Netherlands.
- Help! My Pricey Travel Credit Card Wouldn’t Work When I Traveled - "A Chase card with an annual fee of $550 is touted as handy for going abroad. But on a recent trip outside the U.S., it was declined at every stop. Is there any protection from fraud protection?"
- Here’s How You Can Protect Yourself From Increasingly Sophisticated Cybercriminals - "With cybercriminals becoming more sophisticated, it’s important to understand the types of fraud out there. We spoke to two cybersecurity and identity theft experts to walk you through how to protect yourself and what to do if your credit card (or debit card) information is stolen."
- How I Am Using My American Express Platinum Card to Save Over $180 While Online Shopping This Year - "Among the perks that convinced me to stick with the Platinum Card is a $30 monthly PayPal credit."
- How many credit cards should I have? - "Wondering how many credit cards you should have? Experts say at least two, one from each card network, one from each type of rewards, and no more than you can handle. What's key is ensuring access to more than one credit card network and a variety of rewards."
- How Millennials Became Spooked by Credit Cards - The New York Times.
- How to Avoid Being Fleeced When Using a Credit Card Overseas - The New York Times.
- how to get JP Morgan Reserve Credit Card - myFICO Forums.
- How to Make the Most of Your Credit Card Points - The New York Times.
- How to Make Your Credit Card Act Like a Debit Card - The New York Times.
- How to Manage Your Credit Card Bills, Which Experts Say Are Late More Often - New York Times.
- How to Navigate the Complicated World of Credit Card Points - The New York Times.
- How to Pick the Best Credit Card, Based on Rewards - The New York Times.
- How to pick the best credit card for you - The Telegraph.
- How to rebuild credit from coerced debt - BestCreditCards.com.
- Is the Apple Card pure titanium? Electron microscope scan reveals all... - "As Bloomberg notes, Apple mentions titanium no fewer than 13 times in its support document on the care and cleaning of the sliver of metal."
- J.P. Morgan Reserve Card - Wikipedia.
- J.P. Morgan Reserve Card (Formerly Chase Palladium) - "Everything You Need to Know."
- MASSIVE VISA OUTAGE SHOWS the FRAGILITY OF GLOBAL PAYMENTS - Wired.
- Mastercard: India stops payment service provider from issuing cards - "India's central bank has barred Mastercard indefinitely from issuing new debit or credit cards to domestic customers."
- Mastercard, Visa suspend operations in Russia after invasion - "Mastercard said cards issued by Russian banks will no longer be supported by its network and any Mastercard issued outside the country will not work at Russian stores or ATMs. Visa said it’s working with clients and partners in Russia to cease all Visa transactions over the coming days."
- Olympic athletes will sport Visa's new payment ring in Rio - engadget.
- Palladium Card - (now formally re-branded the J.P. Morgan Reserve Card) was an invitation-only Visa credit card issued by JPMorgan Chase. The laser engraved card was minted out of solid metal and plated with palladium. The card and its successor dominates a category of ultra exclusive, invitation-only credit and charge cards, which includes the American Express Centurion Card.
- Plastic Powers On, Setting Payments Record In 2019, Raising Fears For Cash - "The coronavirus pandemic has accelerated the use of cards, with many retailers declining cash or stating they prefer contactless payments for hygiene reasons."
- Platinum Card Benefits - American Express.
- Pornhub: Mastercard & Visa to block use of cards on site after child abuse allegations - "Companies respond as investigation finds videos of rape and revenge pornography."
- Revolving credit - type of credit that does not have a fixed number of payments, in contrast to installment credit. Credit cards are an example of revolving credit used by consumers.
- Square sellers no longer need signatures for card payments - "Chip and pin transactions now take just two seconds."
- Swiss Bankers Travel Cash Card - no-name prepaid MasterCard is available to everyone; not tied to a bank account; no credit check; no forms to fill out; the card can only be charged when funds have been loaded n euros, US dollars and Swiss francs; safe and affordable withdrawals of funds at over 2 million ATMs worldwide; accepted by more than 33 million merchant locations and online shops worldwide; no annual fee.
- The 'Apple Card' Is Apple's New Credit Card. Is It Right for You? - TIME Magazine.
- The curious story behind the pandemic's weirdest chart - "Consumer spending is the backbone of the US economy and accounts for some two-thirds of economic activity. So if Americans aren't using their credit cards, that's a bad sign for the recovery, even though the percentage of credit cards that are delinquent has also gone down."
- This Is the Only Time You Should Buy a Car With a Credit Card - TIME Magazine.
- This Visa card lets you spend bitcoin anywhere - The Telegraph.
- Time Is Not on Your Side When It Comes to Credit Debt - The New York Times.
- Understanding credit cards - "How do credit cards work?"
- US$450 Credit Cards: Should You Pay for Premium Plastic? - The Wall Street Journal.
- Value-Seekers Warm to a $450 Annual Credit Card Fee - The New York Times.
- Venmo can now instantly transfer money to your debit card for 25 cents - The Verge.
- Visa locks down Bitcoin payment cards in crackdown on card issuer - The Telegraph.
- VISA PAYWAVE - "Visa payWave is a secure, faster, easier way to pay for everyday purchases." Quicker and more convenient than cash.
- Visa warns that hackers are scraping card details from gas pumps - "Cybercream teams have found a weak spot in gas station networks."
- What cash discounts tell us about payment defaults - "'I think a lot about what our society’s default modes are, because those things are 'normal' and thus invisible.' Sure, there are benefits to letting customers pay with cards: they are likely to spend more (the Capital One report says three times as much), you can track them."
- What Do You Know About Your Credit Card? - The New York Times.
- What's in your wallet? Not our new credit card please, warns Apple - "Manufacturer’s warning to keep flashy, minimalist Apple Card away from pockets, wallets and other cards draw derision."
- Why Airline Credit Cards Have an Enduring Appeal - The New York Times.
- Why Visa & Mastercard Are Today’s Most Exciting FinTech Innovators - "In the world of the platform economy, the big get bigger. It’s the winner who takes all."
- Why Visa Is Buying Fintech Startup Plaid For $5.3 Billion - Forbes.
- You Can Pay Rent With a Credit Card. Here’s Why You Should ‘Almost Never’ Do It - "Paying your rent with a credit means getting hit with transaction fees, potentially hurting your credit score, and risking high interest payments. There are only rare situations where that makes sense."
- You should opt out of the Apple Card’s arbitration clause - here’s how - "Keep your right to sue."
- Your Credit Card Benefits Just Got Cut. What Do You Do? - "Yes, your credit card issuer can legally change its terms for the worse compared with when you first signed up. But you have some power here."
Top 10 Most Prestigious Credit Cards
- American Express Platinum Card - "Unique Experiences. Exceptional Services & Rewards." Earn 60,000 Membership Rewards Points after you use your new Card to make $5,000 in purchases in your first 3 months. Annual fee: US$550.
- CENTURION CARD | BLACK AMEX CARD - invitation only charge card issued by American Express to platinum card holders after they meet certain criteria. In the United States, the initiation fee is $7,500 in addition to the $2,500 annual fee from each cardholder. You need to spend $500,000 every year for the business card, and $250,000 for the personal card.
- Chase Ink Business Preferred Credit Card - "Get rewarded for all your business spending." The Chase Ink Business Preferred Credit Card is a card respected by business owners of all revenue sizes, offering 3X Ultimate Rewards points per dollar in several useful business categories.
- CHASE SAPPHIRE RESERVE credit card - "Enjoy elevated rewards for all your travels." Regarded as one of the best premium travel cards on the market, the Chase Sapphire Reserve is in the pockets of millionaires and more modest cardholders alike. For frequent travelers who eat out a lot, this is one of the best flexible travel and dining rewards cards around. Although the annual fee is relatively high ($450), it is recouped by utilizing the card’s rewards and generous annual travel credit ($300).
- Citi Chairman American Express Card - "This premium Card offers you extraordinary benefits with exceptional value." Get the VIP Treatment you deserve. Cardmembers get privileged access to special, extraordinary experiences. Each month we present a selection of the most original travel and lifestyle trends with ideas from around the world.
- COUTTS silk charge card - "A charge card with a high monthly spending limit, Silk opens doors to a world of privileges and benefits. Silk can be tailored to your lifestyle, offering the ability to order additional cards with tailored spending limits and varying benefits."
- Dubai First Royale Card - "Desired by many but attainable by only a select few, the world of Royale Card is tailored to the demanding lifestyle of the true ..." By Invitation Only. Diamond-embedded Crest. No Pre-set Spending Limit. Dedicated Relationship Manager. Royale Lifestyle Management.
- J.P. Morgan Reserve CARD - since 2016. The J.P. Morgan Reserve card, formerly known as Chase Palladium, is by invitation only, reportedly only for individuals with at least $10 million in assets managed by J.P. Morgan. Annual fee: US$595.
- Mastercard Black Card - "The new Mastercard Black Card - Black-PVD-Coated Metal Card - is the ultimate buying tool. The Best Airfare Redemption Rate Versus the Competition. 24/7 Luxury Card Concierge. Around-the-clock availability via phone, live chat and email, Luxury Card Concierge will assist you with travel bookings, various personal requests and more. The Concierge is available to every Cardmember 24/7 with no hidden fees. Our dedicated agents provide a complete lifestyle management tool tailored to each Cardmember’s specific needs, ensuring you save time and enjoy exceptional service." Annual fee: US$495.
- Mastercard Gold Credit Card - "Enjoy extra spending power with fewer fees and penalties."